You turn to us for voices you won't hear anywhere else.

Sign up for Democracy Now!'s Daily Digest to get our latest headlines and stories delivered to your inbox every day.

Dodd: Bonus Protections Added to Stimulus Bill at Admin’s Request

HeadlineMar 19, 2009

Questions, meanwhile, are also surrounding Treasury officials and lawmakers for political maneuvering that effectively authorized the executive bonuses with the passage of the stimulus bill last month. Democratic Senator Ron Wyden says he introduced a provision that would have forced bailout recipients to cap bonuses at $100,000 and tax those exceeding it at 35 percent. The measure passed through the Senate but was inexplicably removed during talks with the House. Meanwhile, the chair of the Senate Banking Committee, Senator Christopher Dodd, is claiming he inserted a provision protecting contractually promised bonuses at the request of the Obama administration. Dodd didn’t name the administration officials who told him to insert the provision. He says he wouldn’t have done so had he known it would have allowed the bonuses at AIG.

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to democracynow.org. Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation
Top